Today, dollar for dollar, is the 318 faster than the 340 ???

As I stated form the git go, 360 is the choice of reason. It's why I left it out. But I cannot believe that some folks cannot, will not, and will scream and holler all the way to the electric chair before they can admit, come to grips, that on a 3k budget, the 318 is actually the faster engine to buy and build vs 340 at fair market value. And that is ONLY due to the fact of collector prices on the 340's.

I completely get it, really. But it leaves out any inkling of common sense. Why do you think (most) guys prefer a 440 over a 383?

If there was one 340 left in the world, there were zero 360's and 318's were sitting piled in every garage, then yes the 318 is the way to go for a 3k budget. But's that far from the real world.

In your scenario I'd tell the kid to look for a 360 core while continuing to save his lunch money. If he's going to be a true gear head he'll be much happier in the long run. Because when the bug bites he'll want to upgrade, maybe a larger cam or headers , better heads. The 360 is just easier to get the power out of. and why shoot your self in the foot from the start?

If he just wants to have a old car to drive around, it doesn't matter what powers it.